From the Secretary General's desk…
The share of manufacturing in India’s GDP has stagnated at 17% compared to over 30% for China over the last decade whilst services, comprising of IT enabled services and other offshore capabilities, have increased to 51 per cent. The ‘Make in India’ programme offers a golden opportunity to India’s manufacturers to emerge from the shadow of the services sector and cash in on the domestic and export market potential. The opportunity to transform from ‘Make for India’ to ‘Make in India’ is applicable to medical technology in healthcare as well. Yet there are challenges that have to be overcome. These challenges relate to inverted duty structures, product market & ownership barriers, land market and labour barriers, infrastructure and facilitative policies. In this backdrop, early this month, FICCI organized the ‘Global Conference on Medical Electronics & Devices’ on the theme, ‘Medical Technology - Key Enabler to Swastha Bharat’. Quite appropriately, Sangita Reddy, Chairperson, FICCI Services Council and FICCI Telangana & Andhra Pradesh State Council and Joint Managing Director, Apollo Hospitals Enterprise Ltd., advised medical electronics & device manufacturers and healthcare providers to innovate and think out of the box , “using their wits and hands” to produce equipment for widespread screening of potential diseases afflicting an individual. This, she pointed out, would ultimately empower an individual to conduct self-diagnostic tests for parameters such as blood sugar levels, heart condition and blood pressure. While access is a critical component in the receipt of health care, there is a dire to adopt and maintain global quality standards. We bring to you a report in this issue. This month also saw the engagement of Members of Indian Parliament with representatives of industry, academia and senior officials of the Government of India at a meeting of India-US Forum of Parliamentarians. The initiative was in step with the calibrated endeavour to strengthen India’s international relationships through Track II initiatives. The meeting (see report) saw an animated and candid dialogue on geopolitical and bilateral aspects of the dynamic India-US relationship. Discussions ranged from the U.S.-India Joint Strategic Vision for the Asia-Pacific and Indian Ocean Region, US aid to Asia, critical issues concerning the future growth path of trade and investment, India’s developmental concerns to the need to build organic partnerships in sectors key and India’s sustainable development strategy in critical areas such as education, renewable energy, clean tech and building R&D ecosystems. We live in an ever-changing world. The watchword is to adapt and become adept. Nowhere is this more compelling than in the foreign trade arena. As is known, the United States is fast tracking the finalisation of Trans Pacific Partnership and this development is bound to impact Indian industry adversely. To sensitise industry on what was coming its way, FICCI in association with CUTS International and IPE Global Pvt Ltd at a seminar on ‘Mega Regional Trade Agreements and their Impacts on the Indian Economy’ last month. While addressing the seminar, Sujata Mehta, Secretary (Multilaterals & ER), Ministry of External Affairs, Government of India, urged Indian industry to focus on improving product standards, manufacturing and services delivery to remain competitive in global markets. The mega regionals have the potential of significantly redefining the global trade architecture. It is widely felt that India must recognise the emerging challenges from the mega agreements currently under negotiation and start preparing right away. And in keeping with the Prime Minister’s campaign ‘Make in India’, industry must focus on producing ‘zero defect, zero effect’ products to maintain its share in the global market. We carry a report in this issue. I am happy to report that that starting from this issue of the magazine, we carry a new column, ‘CEOSpeak’. Philipp von Sahr, President, BMW Group India, writes that ‘Make in India’ has rekindled investors’ interest and elaborates on the dimensions that impact the market attractiveness for global investments.
We hope you will find the contents of the magazine informative and useful.
A Didar Singh